“I think it’s mass hysteria. I think this is similar to what happened in the Great Depression. And I think that everyone wants their money, and they want to touch it and hold it and see it.” From Roy Sebag at goldmoney.com:
On July 11, 2008, news broke out that California based IndyMac Bank suddenly failed and was to be shut down by banking regulators. Within minutes, thousands of bank depositors swarmed their local branches. A jarring video covering the event can still be viewed online. In it, a puzzled CBS news reporter approaches people queueing in the streets and asks them why they have showed up en masse to withdraw their funds from the bank.
The reporter approaches Lisa Hester Lerner, a female depositor who rushed to the scene after having discovered that everything above the insured limit in her online bank account had disappeared. She had this to say: “I think it’s mass hysteria. I think this is similar to what happened in the Great Depression. And I think that everyone wants their money, and they want to touch it and hold it and see it.”
“I think that everyone wants their money, and they want to touch it and hold it and see it.”
Nearly fifteen years after the 2008 financial crisis, retail bank depositors have been plunged into a renewed sense of fear as bank runs abound from Silicon Valley to Manhattan to Zurich. Last week, Silicon Valley Bank, Silvergate and Signature Bank New York failed. The US Treasury, FDIC, and the Federal Reserve were forced to step in by providing an “emergency rescue” package that will guarantee as much as $400 billion of uninsured deposits. Over the weekend, the Swiss government forced a merger of Credit Suisse with UBS by changing the country’s laws in an effort to halt a bank run on the 166-year-old institution.
STRAIGHT LINE LOGIC 
I find I am intrigued by the title and apparent theme of this article.
While I will always reject the notion that Man and his creations are somehow “unnatural,” the apparent context in which the author seems to be making his point(s) – admittedly of limited milieu in this short article, I find fascinating.
I shall buy the book!
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